Icon Energy Announces It Sold 680,023 Common Shares From Year-To-Date Raising Net Proceeds Of $2.3M At Average Price Of $3.31/Share

Icon Energy Corp. ("Icon" or the "Company") (Nasdaq: ICON), an international shipping company providing worldwide seaborne transportation services for dry bulk cargoes via its fleet of oceangoing vessels, announced today that year-to-date it has sold an aggregate of 680,023 shares of the Company's common shares pursuant to advances under the Standby Equity Purchase Agreement ("SEPA"), generating net proceeds of $2.3 million at an average price per share of $3.31.

As previously announced, Icon entered into the SEPA with an investor on August 27, 2025. Subject to its terms and conditions, Icon has the right (but not the obligation) to issue to the investor, and the investor has the obligation to purchase up to $20 million worth of the Company's common shares over a period of three years.